This year has been a rough one for most cryptocurrencies but some have fared worse than others. Ethereum is one of those heavy sufferers that has lost over 90% since its peak almost a year ago.

According to Arthur Hayes, CEO of Hong Kong based BitMEX, the revival of Ethereum could be just around the corner. Speaking to Cointelegraph Japan he said ETH could quickly return to $200 once new ICO projects start hitting the markets.

“Once there are new issues, then Ether will rebound aggressively. When the ICO market returns, Ether will quickly test $200. The timing of the ICO rebirth is 12 to 18 months out,”

Hayes has not been a proponent of Ethereum in the past calling it a ‘shitcoin’ and even advising BitMEX users to short it according to Trustnodes which also ran reports of price manipulation.

ICOs have been largely responsible for this year’s Ethereum performance and the fact that it has been outperformed by a number of other crypto assets including Bitcoin, XRP and TRON which have recovered faster. It has been estimated that…